Teleflex, trading under TFX, may finalize a deal to purchase Biotronik’s vascular intervention segment by the end of this month. Reports from December 4, as published by Bloomberg, revealed inside information indicating that Teleflex is contemplating an offer ranging from €500 million to €1 billion for this segment.
Mike Matson, a Senior Research Analyst at Needham & Co., expressed optimism regarding the potential acquisition while noting that the transaction isn’t set in stone. “The acquisition aligns strategically for TFX,” mentioned Matson, “as Biotronik’s offerings in stents, balloons, and guidewires would enhance TFX’s Interventional business.”
Back on October 31, Teleflex revealed a third-quarter financial report which necessitated the revision of its full-year revenue growth outlook, impacting its shares, which have plummeted over 27% this year to approximately $182 each. Nonetheless, their Interventional division exhibited robust 11.8% year-over-year revenue growth in Q3. CEO Liam Kelly observed: “Our varied product range showcased resilience with strong performances in Interventional and Vascular Access, balancing unexpected OEM revenue challenges.”